Question 1

Which exchange has the highest TLM funding rate right now?

Accepted Answer

Gate.io shows the highest TLM funding at +170.72% annualized. A high positive rate means shorts get paid, so this is the venue to short TLM when running a funding-arbitrage pair. Rates change every settlement window — check the live screener for the current value.

Question 2

Which exchange is best to long TLM for funding?

Accepted Answer

Pionex has the lowest TLM funding at +10.96% annualized, which makes the long leg cheapest (or paid). Pair it with the highest-funding venue to capture the spread delta-neutral.

Question 3

What is the best TLM funding-arbitrage pair?

Accepted Answer

The widest spread is long Binance Futures / short Gate.io at about 159.8% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does TLM funding settle?

Accepted Answer

TLM funding settles on different schedules by venue (4h, 8h). Longer intervals concentrate the same annualized rate into fewer, larger payments. ORBIT normalizes every venue to a common APR so they are directly comparable.

Question 5

Is TLM funding positive or negative?

Accepted Answer

TLM funding is currently positive across venues (longs pay shorts), ranging +10.96% to +170.72% APR.

Question 6

What is the current TLM perpetual swap funding rate?

Accepted Answer

The current TLM perpetual swap funding rate ranges from +10.96% to +170.72% annualized depending on the exchange — Pionex is lowest and Gate.io is highest right now. There is no single TLM funding rate: every venue runs its own funding formula and order book, which is why the rate has to be read by exchange rather than as one number.

Question 7

What is the aggregated TLM funding rate across exchanges?

Accepted Answer

Aggregated across the 13 venues ORBIT tracks, TLM funding currently spans +10.96% to +170.72% APR, a spread of 159.8 percentage points. An aggregated average hides the part that matters for trading — the gap between the cheapest and dearest venue — so the table above lists each exchange separately.

Question 8

How do I read the TLM 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle TLM every 8 hours quote the per-payment rate, which is charged three times a day. Multiply an 8h rate by 3 to get the daily figure and by 1,095 to annualize it. ORBIT converts every venue — 1h, 4h and 8h alike — to a common APR so an 8h rate and a 1h rate can be compared directly.

Exchange	Funding APR↓	Interval	Open Interest↕	Mark Price↕
Gate.ioBest Short	+170.72%	8h	$72K	$0.0015
Binance FuturesBest Long	+10.96%	4h	$1.6M	$0.0016
Bybit	+10.96%	8h	$582K	$0.0016
BingX	+10.96%	4h	$1.0M	$0.0016
Bitget	+10.96%	4h	$655K	$0.0016
MEXC	+10.96%	4h	$877K	$0.0016
Aster	+10.96%	4h	$6K	$0.0016
Variational	+10.96%	8h	$16K	$0.0016
edgeX V2	+10.96%	4h	$1K	$0.0016
Toobit	+10.96%	4h	$378K	$0.0016
Bitunix	+10.96%	4h	—	$0.0016
WEEX	+10.96%	4h	$1.0M	$0.0016
Pionex	+10.96%	4h	$26K	$0.0016

TLM Perpetual Swap Funding Rate by Exchange

How TLM funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

TLM funding rates explained

Frequently asked questions